New Delhi, Aug. 18 -- The Income Tax return (ITR) filing season is currently on. Taxpayers are scurrying around to file their returns well in time before the deadline ends on September 15. Some are using the services of tax experts, whereas others prefer to go the DIY way - a practice highly lauded by academic Dr Saumya Aggarwal, assistant professor at Shri Ram College of Commerce (SRCC), University of Delhi.

In a telephonic conversation withMint, she shares her views on the mistakes commonly made by taxpayers, expectations from the revised New Income Tax Bill, and the key reasons why taxpayers are recommended to file their tax returns on their own.

ITR-1 can also be used to reportcapital gains if exempt up to Rs.1.25 lakh. Earlier, tax...